1. Cisco Beats Estimates, Slashes 4,000 Jobs, Stock Surges 17% as AI Networking Demand Fuels Outlook
Cisco Systems reported fiscal third-quarter revenue of $15.84 billion, surpassing Wall Street's $15.56 billion consensus estimate and posting 12% year-over-year growth, while simultaneously announcing plans to cut nearly 4,000 positions as part of a strategic restructuring effort. The company's shares surged more than ...